Udaipur (Rajasthan): Debt waiver schemes of central and state governments have not benefited farmers as they restricted credit flow subsequently, Reserve Bank of India (RBI) Governor Raghuram Rajan said Saturday.

"Studies have shown that debt waiver programmes have been ineffective, constraining credit flow to farmers after their loans were waived off," Rajan said at the 97th annual conference of the Indian Economic Association organised by the economics department of Mohanlal Sukhadia University in Udaipur, about 420 km from Jaipur.